Parliament today passed a bill that seeks to create time-bound processes for insolvency resolution of companies and individuals. (Reuters) Parliament today passed a bill that seeks to create time-bound processes for insolvency resolution of companies and individuals. Insolvency is a situation where an individual or a company is unable to repay their outstanding debt.…
May 11 India’s upper house of parliament passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans. Prime Minister Narendra Modi, who completes two years in office this month, had promised to introduce the code…
TOKYO Japan’s Takata Corp. said it was considering a drastic review of its inflator division and the sale of non-core businesses its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags. The announcement came as the auto parts maker booked its third annual loss in four years on an…
If youre carrying a large amount of high-interest credit-card debt, you should consider a peer-to-peer loan for one simple reason: It can save you lots of money. Peer-to-peer loans wont fix the core issue that draws people into credit-card debt spirals, which boils down to spending more than they have or can repay, leading to…
The law firm of an attorney serving as insolvency administrator to German Pellets GmbH has released a statement noting three of the companys pellet plants in Germany have been sold, with negotiations ongoing in the sale of a fourth. According to the statement, a district court in Schwerin, Germany, opened the insolvency proceedings over the…
©EPA Eon, Germanys biggest power producer, said it was making progress with a massive corporate restructuring which will see it split in two and announced a 30 per cent rise in first-quarter profit, largely due to a contract renegotiation with Russias Gazprom. Badly hurt by Germanys radical switch from fossil fuels to renewables, Eon is…
BOSTON (CBS) With an increasing number of college graduates shouldering enormous student loan burdens, consumer protection agencies are warning borrowers about a growing cottage industry of predatory debt relief companies. Amelia Manni remembers getting a phone call from a company that knew she had taken out student loans to attend Boston University. The company, United…